Chinese aviation sector on recovery path after three big airlines post record losses in 2022

The Chinese aviation industry is likely to recover this year, experts claim after easing of pandemic restrictions. Three of China’s biggest airlines Air China, China Eastern Airlines, and China Southern Airlines have posted record loss of over $15.9 bn in 2022. But good days are here to come. Air China recorded a net loss of almost 133% higher than previous year to close 2022 at $5.6bn. The airline has attributed the loss to various factors like low tourism needs, high oil prices, and exchange rate fluctuations. The airline recorded a 29% slump in revenue to close at CNY52.9 billion. In